November 18 Morning Thoughts:

At midnight, Bitcoin's price action encountered resistance, pulling back from the high of 107596 and continuously declining to the low of 105252. Ethereum's performance was also poor, as it faced resistance at the high of 3983 and subsequently fell, ultimately stopping at the low of 3850.

From a daily perspective, the candlestick has recorded four consecutive bullish days, showing a steady upward trend. Initially, it experienced a rising phase, followed by a consolidation phase to build momentum, and then achieved a breakthrough to initiate a new upward journey, continuously refreshing the high point values, with the rhythm appearing particularly clear. However, after yesterday's surge, there was a rapid pullback, causing the bullish advance to pause. Based on this situation, it is likely that the market will enter a period of oscillation and consolidation in the short term. Currently, the strong resistance level is around 108000, while the short-term support level is near 105000. As long as this support level is not effectively broken during pullbacks, the overall trend structure will not reverse.

Switching to the short-term 4-hour chart for analysis, Bitcoin is currently in a phase of pullback after a surge, precisely touching the support near the 105000 level before reopening the rebound trend. Thus, this position can be viewed as an effective support point in the short term; as long as this level holds, there is no need to worry about a deep pullback. Although the previous strong upward momentum has been temporarily interrupted, the overall upward trend has not fundamentally changed, and each pullback can be seen as an excellent opportunity to enter the market. It is expected that Bitcoin will still have upward probing movements in the future. In terms of operational strategy, it is recommended to focus on going long at lower levels as the main approach.

Bitcoin: Long at 105500-105800, aiming for above 108000

Ethereum: Long at 3880-3910, aiming for above 4100

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